Hotel Online  Special Report

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SOMA Hotel Portfolio in San Francisco, California Is Sold
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Colliers International Hotels
Acts as Advisor to the Seller
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San Francisco, CA -- (Business Wire) - October 4, 2006 --  Colliers International Hotels announces that it has arranged the sale of a four-property hotel portfolio in San Francisco, California. 

The sale included the following hotel properties: 

  • The Hotel Britton  - 79 rooms 
  • The Best Western Americania Hotel  - 143 rooms 
  • The Best Western Carriage Inn -  48 rooms 
  • The Best Western Flamingo Inn - 38 rooms 
Colliers International Hotels advised the seller, Reneson Hotel Group, on the transaction.  The buyer is a private real estate fund that has retained San Francisco-based Joie de Vivre Hospitality to manage the hotels on its behalf.   

The 308-unit portfolio hotel is located near the intersection on Mission and 7th Streets in San Francisco's South of Market (SOMA) neighborhood.  This area has experienced significant redevelopment in recent years and this trend is continuing, most notably with the pending opening of the 690,000 square-foot San Francisco Federal Building. 

"While the seller was motivated in part by the current strength of the real estate investment market, the transaction is a win-win in the sense that the new owner will be able to take advantage of both a robust citywide hotel market and the neighborhood's growth prospects", says Mark McDermott, Senior Vice President of Colliers International Hotels' San Francisco office. 

About Colliers International Hotels 
Colliers International Hotels has been a premier provider of specialized brokerage and advisory services to the hospitality industry since 1989.  Colliers International Hotels' U.S. practice is headquartered in San Francisco, and expanded to Southern California with the opening of its Irvine office in early 2005.  Colliers International Hotels has additional North American offices in Canada and Mexico, and has global offices in Europe, Asia and Australia.  Colliers International Hotels is part of Colliers International, a global real estate firm that provides a full range of services to commercial real estate users, owners and investors in 241 offices in 54 countries. 

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Contact:
 

Mark McDermott 
Senior Vice President 
Colliers International Hotels
(415) 288-7815 
mark.mcdermott@colliers.com

www.colliers.com
 

Also See: Crowne Plaza Hotel in Pleasanton, California Is Sold; Colliers International Hotels Acts as Advisor to the Seller / September 2006
Embassy Suites Buena Park-Disneyland Area Sold; Colliers International Hotels Acts as Advisor to the Seller / July 2006


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